Progressive Corp. (NYSE: PGR) awards RSUs to its Chief Strategy Officer
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
WITALEC DANIEL J reported acquisition or exercise transactions in this Form 4 filing.
Progressive Corp.’s Chief Strategy Officer Daniel J. Witalec received a grant of 2.6000 Restricted Stock Units on July 10, 2026 through reinvested dividend equivalents. Each unit represents a contingent right to one common share and will vest with related RSUs. After this award, he directly holds 5,971.6260 Restricted Stock Units.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
WITALEC DANIEL J
Role
Chief Strategy Officer
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Unit | 2.6 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Unit — 5,971.626 shares (Direct)
Footnotes (1)
- Each Restricted Stock Unit represents a contingent right to receive one Common Share of the Company's stock. These units, which were acquired upon the reinvestment of dividend equivalents, will vest at the same time as the Restricted Stock Units to which they relate. Expiration Date is the same as the Date Exercisable.
Key Figures
RSUs granted: 2.6000 units
RSU holdings after grant: 5,971.6260 units
RSU-to-share ratio: 1 unit per common share
+1 more
4 metrics
RSUs granted
2.6000 units
Restricted Stock Units granted to Daniel J. Witalec on July 10, 2026 via dividend equivalents
RSU holdings after grant
5,971.6260 units
Total Restricted Stock Units held directly by Daniel J. Witalec following the reported transaction
RSU-to-share ratio
1 unit per common share
Each Restricted Stock Unit represents a contingent right to receive one common share of stock
Transaction price per unit
0.0000 per unit
Reported price per Restricted Stock Unit for the grant/award acquisition
Key Terms
Restricted Stock Unit, dividend equivalents, contingent right, Expiration Date
4 terms
Restricted Stock Unit financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.
dividend equivalents financial
"These units, which were acquired upon the reinvestment of dividend equivalents, will vest"
Payments tied to employee or contractor equity awards that mirror the cash dividends paid on the company’s stock; they give the holder the same economic benefit as owning the shares without transferring actual shares—often paid in cash or additional award units when the award becomes payable. Investors care because these payments affect a company’s compensation costs, cash flow and potential share dilution, and they signal how management is being rewarded and aligned with shareholders.
contingent right financial
"Each Restricted Stock Unit represents a contingent right to receive one Common Share"
Expiration Date financial
"Expiration Date is the same as the Date Exercisable"
The expiration date is the deadline after which a financial contract, such as an option or a futures agreement, is no longer valid or can be exercised. It matters to investors because it determines the timeframe during which they can take action or benefit from the contract, similar to how a coupon or a food item has a limited period of usefulness. Once the expiration date passes, the contract loses its value or ability to be used.
FAQ
What insider transaction did Progressive (PGR) report for Daniel J. Witalec?
Daniel J. Witalec, Progressive’s Chief Strategy Officer, received 2.6000 Restricted Stock Units on July 10, 2026. These units came from reinvested dividend equivalents, each representing a contingent right to one common share, and will vest at the same time as the related Restricted Stock Units.
How many Progressive (PGR) Restricted Stock Units does Daniel J. Witalec hold after this grant?
After the reported grant, Daniel J. Witalec directly holds 5,971.6260 Restricted Stock Units. This total includes the additional 2.6000 units acquired through dividend-equivalent reinvestment and reflects his aggregate RSU position reported as of the July 10, 2026 transaction date.
What does each Restricted Stock Unit represent for Progressive (PGR)?
Each Restricted Stock Unit represents a contingent right to receive one Progressive common share. The units do not immediately deliver shares; instead, they convert into common shares upon vesting, aligning the executive’s compensation with the company’s share performance over time.
Were the new Progressive (PGR) RSUs acquired through an open-market purchase?
No. The 2.6000 units were acquired as a grant/award via reinvested dividend equivalents, not through an open-market buy. The transaction is recorded with a price of 0.0000 per unit, consistent with stock-based compensation rather than a cash purchase on the market.
When will Daniel J. Witalec’s new Progressive (PGR) RSUs vest?
The 2.6000 additional Restricted Stock Units will vest at the same time as the RSUs to which they relate. They were acquired through dividend-equivalent reinvestment and are contractually tied to the existing underlying RSU award’s vesting schedule, rather than having a separate date.